Lockhart refuses to confirm September, so December is now on the cards. AUDUSD 75 cents??
Compass Global Markets
AUDUSD: Started the week drifting lower as we headed towards the only event of the day, namely FOMC Lockhart’s speech. However a refusal by the FOMC member to confirm September had the local currency rally back. Domestic Business Confidence is our focus for the next 24 hours and we expect a pull back from last month’s strong number. On the charts the lows continue to hold, however we still need a break through last week’s highs to negate the downside potential. AUDEUR: With no data of note released we kept within the 3 day old range. However with business Confidence due from here and Germany, that is set to change. AUDGBP: The Pound strengthened here as comments overnight suggest the 8/1 MPC vote may well increase short term. Unemployment data isn’t due until tomorrow so we’ll expect the range to hold until then. AUDNZD: Held the range yesterday as there was no data released to give direction. Expect a shortterm reactionary spike to this morning’s Business Confidence, but not any real concerted move - at least not lower anyway. (VIEW LINK)
Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...
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